The gross domestic product (GDP) per capita in Taiwan was forecast to continuously increase between 2024 and 2029 by in total 7,768 U.S. dollars (+23.37 percent). After the sixth consecutive increasing year, the GDP per capita is estimated to reach 41,001.79 U.S. dollars and therefore a new peak in 2029. This indicator describes the gross domestic product per capita at current prices. Thereby the gross domestic product was first converted from national currency to U.S. dollars at current exchange prices and then divided by the total population. The gross domestic products is a measure of a country's productivity. It refers to the total value of goods and service produced during a given time period (here a year).Find more key insights for the gross domestic product (GDP) per capita in countries like Japan, China, and South Korea.

GDP per capita based on PPP of Taiwan Province of China surged by 5.15% from 69,243 international dollars in 2022 to 72,812 international dollars in 2023. Since the 4.06% climb in 2013, GDP per capita based on PPP soared by 67.63% in 2023. GDP per capita (PPP based) is gross domestic product converted to international dollars using purchasing power parity rates and divided by total population. An international dollar has the same purchasing power over GDP as a U.S. dollar has in the United States. A purchasing power parity (PPP) between two countries, A and B, is the ratio of the number of units of country A’s currency needed to purchase in country A the same quantity of a specific good or service as one unit of country B’s currency will purchase in country B. PPPs can be expressed in the currency of either of the countries. In practice, they are usually computed among large numbers of countries and expressed in terms of a single currency, with the U.S. dollar (US$) most commonly used as the base or “numeraire” currency.

Graph and download economic data for Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Taiwan (PGD2USTWA621NUPN) from 1951 to 2010 about Taiwan, PPP, per capita, and GDP.

Key information about Taiwan Real GDP Growth

• The Gross Domestic Product (GDP) in Taiwan contracted 0.5 % YoY in Dec 2022, following a growth of 3.7 % in the previous quarter.
• Real GDP Growth YoY data in Taiwan is updated quarterly, available from Mar 1983 to Dec 2022, with an average rate of 5.9 %.
• The data reached an all-time high of 14.4 % in Jun 1987 and a record low of -8.0 % in Mar 2009.

• In the latest reports, Nominal GDP of Taiwan reached 182.4 USD bn in Dec 2022.
• Its GDP deflator (implicit price deflator) increased 1.5 % in Dec 2022.
• GDP Per Capita in Taiwan reached 32,811.0 USD in Dec 2022.
• Its Gross Savings Rate was measured at 37.6 % in Dec 2022.
• For Nominal GDP contributions, Investment accounted for 26.2 % in Dec 2022.
• Public Consumption accounted for 15.1 % in Dec 2022.
• Private Consumption accounted for 47.1 % in Dec 2022.

In 2024, the gross domestic product (GDP) of Taiwan amounted to around 25.5 trillion New Taiwan dollars or 793.2 billion U.S. dollars (at current prices). Annual GDP growth increased to 4.3 percent in 2024 and was forecasted to reach 3.3 percent in 2025. Quarterly GDP growth reached 1.8 percent in the fourth quarter of 2024. Taiwan’s economic development Gross domestic product (GDP) measures the value of all goods and services produced in an economy over a certain time, normally a year. It is a primary indicator of economic strength. Although Taiwan is a comparatively small island, it has a highly developed economy with a high per capita GDP in comparison to other economies in Asia-Pacific.Taiwan is highly integrated in international value chains and is well known for its computer and chip industries. Over the last decade, Taiwan experienced stable economic growth averaging more than three percent, and had comparatively low inflation and unemployment rates. Important economic sectors Taiwan maintains a significant industrial sector. Manufacturing alone contributes around one third to the total GDP, while wholesale and retail trade made up for around 16 percent in 2023. This is due to a high export orientation of the economy, with electronic parts being the leading export products. The service sector has been stable at around 62 percent of the GDP over the last decade.

In 2024, the annual growth rate of the real gross domestic product (GDP) in Taiwan amounted to approximately 4.3 percent. GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country. GDP development in Taiwan The GDP of Taiwan displayed a comparatively stable development over the last decade with growth rates averaging 3.3 percent between 2014 and 2024. This strong economic performance was mainly due to the successful development of high-tech industries, especially in the electronics sector, and the firm integration into global value chains. The industrial sector of Taiwan is still comparatively large and produces many intermediate products for the global market. Despite the island’s small size, Taiwan is among the leading exporters and has one of the highest trade surpluses in the world. GDP per capita reached around 32,400 U.S. dollars in 2023. Current economic development Taiwan was among few to be able to maintain strong economic growth during the global spread of the coronavirus pandemic in 2020 and 2021. At the end of 2022, the country was hit by the global economic downturn, and quarterly GDP growth dropped to -3.5 percent in the first quarter of 2023. However, the economy rebounded quickly and returned to positive growth in the second quarter.

Taiwan Real(GDP) Gross Domestic Productper Capita data was reported at 60,595.110 USD in 2023. This records an increase from the previous number of 59,497.990 USD for 2022. Taiwan Real(GDP) Gross Domestic Productper Capita data is updated yearly, averaging 36,533.245 USD from Dec 1990 (Median) to 2023, with 34 observations. The data reached an all-time high of 60,595.110 USD in 2023 and a record low of 16,071.240 USD in 1990. Taiwan Real(GDP) Gross Domestic Productper Capita data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Taiwan – Table TW.OECD.GGI: Governance: Economic Environment and Growth: Non OECD Member: Annual.

Graph and download economic data for Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of Consumption, Government Consumption, Investment for Taiwan (RGDPLPTWA625NUPN) from 1951 to 2010 about Taiwan, PPP, investment, per capita, consumption, government, GDP, and rate.

Graph and download economic data for Government Consumption Share of Purchasing Power Parity Converted GDP Per Capita at current prices for Taiwan (CGPPPGTWA156NUPN) from 1951 to 2010 about Taiwan, PPP, per capita, consumption, government, and GDP.

This statistic shows the per capita gross national product (GNP) of Taiwan from 2013 to 2023. In 2023, the per capita GNP in Taiwan ranged around 33,299 U.S. dollars.

The growth of the real gross domestic product (GDP) in Taiwan was forecast to continuously decrease between 2024 and 2029 by in total 1.6 percentage points. According to this forecast, in 2029, the growth will have decreased for the fifth consecutive year to 2.15 percent. Following the definition of the International Monetary Fund, this indicator refers to the annual change in the gross domestic product at constant prices, expressed in national currency units. Here the gross domestic product represents the total value of the final goods and services produced during a year.Find more key insights for the growth of the real gross domestic product (GDP) in countries like Japan, China, and Hong Kong SAR China.

Taiwan Gross National Income: USD: Per Capita data was reported at 6,208.000 USD in Sep 2018. This records a decrease from the previous number of 6,252.000 USD for Jun 2018. Taiwan Gross National Income: USD: Per Capita data is updated quarterly, averaging 2,064.000 USD from Mar 1961 (Median) to Sep 2018, with 231 observations. The data reached an all-time high of 6,632.000 USD in Dec 2017 and a record low of 37.000 USD in Sep 1961. Taiwan Gross National Income: USD: Per Capita data remains active status in CEIC and is reported by Directorate-General of Budget, Accounting and Statistics, Executive Yuan. The data is categorized under Global Database’s Taiwan – Table TW.AA001: SNA 08: Reference Year=2011: GDP: by Expenditure: Current Price.

The gross domestic product (GDP) per capita in South Korea was forecast to continuously increase between 2024 and 2029 by in total 8,215.6 U.S. dollars (+22.74 percent). After the seventh consecutive increasing year, the GDP per capita is estimated to reach 44,347.44 U.S. dollars and therefore a new peak in 2029. This indicator describes the gross domestic product per capita at current prices. Thereby the gross domestic product was first converted from national currency to U.S. dollars at current exchange prices and then divided by the total population. The gross domestic products is a measure of a country's productivity. It refers to the total value of goods and service produced during a given time period (here a year).Find more key insights for the gross domestic product (GDP) per capita in countries like Mongolia, Japan, and Taiwan.

Taiwan Gross National Income: AE: Per Capita data was reported at 193,413.000 NTD in Sep 2018. This records an increase from the previous number of 187,426.000 NTD for Jun 2018. Taiwan Gross National Income: AE: Per Capita data is updated quarterly, averaging 187,037.000 NTD from Dec 2014 (Median) to Sep 2018, with 16 observations. The data reached an all-time high of 197,837.000 NTD in Dec 2017 and a record low of 178,492.000 NTD in Jun 2015. Taiwan Gross National Income: AE: Per Capita data remains active status in CEIC and is reported by Directorate-General of Budget, Accounting and Statistics, Executive Yuan. The data is categorized under Global Database’s Taiwan – Table TW.AA006: SNA 08: Reference Year=2011: GDP: by Expenditure: Current Price: Advance Estimate.

Key information about Taiwan Gross Savings Rate

• Taiwan Gross Savings Rate was measured at 37.6% in Dec 2022, compared with 37.6% in the previous quarter.
• Taiwan Gross Savings Rate is updated quarterly, with data available from Mar 1966 to Dec 2022, and an average rate of 37.6%.
• The data reached an all-time high of 37.6% in Jun 2021 and a record low of 15.9% in Mar 1968.
• CEIC calculates Gross National Savings Rate from quarterly Gross National Savings and quarterly Gross National Income. The Directorate-General of Budget, Accounting and Statistics, Executive Yuan provides Gross National Savings in local currency and Gross National Income in local currency.
• In the latest reports, Taiwan GDP contracted 0.5% YoY in Dec 2022.
• Taiwan Nominal GDP reached 182,443.5 USD mn in Dec 2022. Its GDP deflator (implicit price deflator) increased 1.5% in Dec 2022.
• Taiwan GDP Per Capita reached 32,811.0 USD in Dec 2022.

Taiwan Gross Domestic Product (GDP): AE: USD: Per Capita data was reported at 6,145.000 USD in Sep 2018. This records an increase from the previous number of 6,141.000 USD for Jun 2018. Taiwan Gross Domestic Product (GDP): AE: USD: Per Capita data is updated quarterly, averaging 5,833.000 USD from Dec 2014 (Median) to Sep 2018, with 16 observations. The data reached an all-time high of 6,430.000 USD in Dec 2017 and a record low of 5,367.000 USD in Mar 2016. Taiwan Gross Domestic Product (GDP): AE: USD: Per Capita data remains active status in CEIC and is reported by Directorate-General of Budget, Accounting and Statistics, Executive Yuan. The data is categorized under Global Database’s Taiwan – Table TW.AA006: SNA 08: Reference Year=2011: GDP: by Expenditure: Current Price: Advance Estimate.

The aging population is a common problem faced by most countries in the world. This study uses 18 years (from 2002 to 2019) of panel data from 31 regions in China (excluding Hong Kong, Macao, and Taiwan Province), and establishes a panel threshold regression model to study the non-linear impact of the aging population on economic development. It is different from traditional research in that this paper divides 31 regions in China into three regions: Eastern, Central, and Western according to the classification standard of the National Bureau of Statistics of China and compares the different impacts of the aging population on economic development in the three regions. Although this study finds that the aging population promotes the economy of China’s eastern, central, and western regions, different threshold variables have dramatically different influences. When the sum of export and import is the threshold variable, the impact of the aging population on the eastern and the central region of China is significantly larger than that of the western region of China. However, when the unemployment rate is the threshold variable, the impact of the aging population on the western region of China is dramatically higher than the other regions’ impact. Thus, one of the contributions of this study is that if the local government wants to increase the positive impact of the aging population on the per capita GDP of China, the local governments of different regions should advocate more policies that align with their economic situation rather than always emulating policies from other regions.

72.812 (Int. Dollar (PPK) pro Kopf) in 2023. GDP per capita (PPP based) is gross domestic product converted to international dollars using purchasing power parity rates and divided by total population. An international dollar has the same purchasing power over GDP as a U.S. dollar has in the United States. A purchasing power parity (PPP) between two countries, A and B, is the ratio of the number of units of country A’s currency needed to purchase in country A the same quantity of a specific good or service as one unit of country B’s currency will purchase in country B. PPPs can be expressed in the currency of either of the countries. In practice, they are usually computed among large numbers of countries and expressed in terms of a single currency, with the U.S. dollar (US$) most commonly used as the base or “numeraire” currency.

The ratio of government expenditure to GDP in Taiwan was forecast to continuously increase between 2024 and 2029 by in total 1.9 percentage points. After the fifth consecutive increasing year, the ratio is estimated to reach 19.44 percent and therefore a new peak in 2029. Depicted here is the general government expenditure as a share of the national gross domestic product. According to the International Monetary Fund, the general government expenditure consists of total expense and the net acquisition of nonfinancial assets. The gross domestic product represents the total value of final goods and services produced during a year.Find more key insights for the ratio of government expenditure to GDP in countries like China, Mongolia, and South Korea.

Population: Taiwan Area: Taichung City data was reported at 2,799.254 Person th in Oct 2018. This records an increase from the previous number of 2,797.874 Person th for Sep 2018. Population: Taiwan Area: Taichung City data is updated monthly, averaging 2,556.328 Person th from Jan 1992 (Median) to Oct 2018, with 322 observations. The data reached an all-time high of 2,799.254 Person th in Oct 2018 and a record low of 2,065.700 Person th in Jan 1992. Population: Taiwan Area: Taichung City data remains active status in CEIC and is reported by Ministry of the Interior. The data is categorized under Global Database’s Taiwan – Table TW.G001: Population.